Trillium Asset Management LLC purchased a new stake in shares of Automatic Data Processing (NASDAQ:ADP) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,363 shares of the business services provider’s stock, valued at approximately $218,000.
Several other hedge funds also recently added to or reduced their stakes in the company. Tributary Capital Management LLC bought a new position in Automatic Data Processing during the fourth quarter valued at $26,000. AlphaMark Advisors LLC grew its holdings in shares of Automatic Data Processing by 319.1% in the fourth quarter. AlphaMark Advisors LLC now owns 197 shares of the business services provider’s stock worth $26,000 after purchasing an additional 150 shares during the last quarter. Lake Point Wealth Management bought a new position in shares of Automatic Data Processing in the fourth quarter worth about $26,000. Horan Securities Inc. bought a new position in shares of Automatic Data Processing in the fourth quarter worth about $31,000. Finally, Horan Capital Advisors LLC. bought a new position in shares of Automatic Data Processing in the first quarter worth about $31,000. 81.20% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have recently commented on ADP. Zacks Investment Research cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, May 15th. BidaskClub upgraded shares of Automatic Data Processing from a “buy” rating to a “strong-buy” rating in a report on Friday, May 10th. Citigroup upped their price target on shares of Automatic Data Processing from $147.00 to $162.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Barclays upped their price target on shares of Automatic Data Processing from $168.00 to $180.00 and gave the stock an “overweight” rating in a report on Monday, May 6th. Finally, Sanford C. Bernstein cut shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a report on Tuesday, April 30th. Nine equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $159.00.
In other Automatic Data Processing news, VP Donald Weinstein sold 1,706 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $165.01, for a total transaction of $281,507.06. Following the completion of the sale, the vice president now directly owns 26,220 shares of the company’s stock, valued at $4,326,562.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jan Siegmund sold 27,272 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $165.00, for a total transaction of $4,499,880.00. Following the sale, the insider now directly owns 77,595 shares of the company’s stock, valued at $12,803,175. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,456 shares of company stock valued at $5,010,669. 0.33% of the stock is owned by insiders.
NASDAQ:ADP traded up $0.31 during mid-day trading on Wednesday, reaching $163.31. The company’s stock had a trading volume of 10,033 shares, compared to its average volume of 1,980,116. Automatic Data Processing has a 1 year low of $121.40 and a 1 year high of $165.50. The firm has a market cap of $69.94 billion, a PE ratio of 37.59, a price-to-earnings-growth ratio of 2.29 and a beta of 0.95. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.04 and a quick ratio of 1.04.
Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, May 1st. The business services provider reported $1.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.69 by $0.08. Automatic Data Processing had a net margin of 13.76% and a return on equity of 50.53%. The company had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.91 billion. During the same period in the prior year, the firm earned $1.57 earnings per share. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. Sell-side analysts anticipate that Automatic Data Processing will post 5.44 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Thursday, June 13th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 72.64%.
Automatic Data Processing Company Profile
Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.
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